Morocco poised to attract more Japanese investments
Morocco stands as the second largest destination for Japanese investments in Africa with 75 firms employing 50,000 people, a position that well-places the Kingdom to attract more investments as Japan seeks a foothold for its companies at the crossroads of major global trade routes.
Thanks to its world class infrastructure including major ports such as the Tanger Med Port and the existence of competitive ecosystems in the car and the automotive industry, Morocco is poised to attract investments from more Japanese firms amid an ongoing reconfiguration of the global supply chain map.
Japanese firms are now the largest industrial employer in Morocco. Japanese groups Sumitomo, Fujikura automotive and Yazaki employ 30.000 people in the sectors of wire harness and airplane parts.
Yoshimasa Hayashi, Japanese foreign minister told his Moroccan peer Nasser Bourita that more Japanese companies are looking to Morocco to outsource production.
Japan is also considering Morocco a gateway to the African market where Moroccan banks are active. Japanese bank Mizhu Bank had signed a deal with Attijariwafa Bank, while Moroccan BCP bank had signed a deal with Sumitomo Mitsui Banking Corporation to work together in the African continent.
In the field of agriculture, Morocco enjoys a trade surplus with Japan, which relies on Morocco for 20% of its fertilizer imports.